The following content is sponsored by Roundhill Investments.
The Briefing
- Sports betting became legal outside Nevada when the federal ban was lifted in 2018.
- Legalization contributed to betting growth, with wagers on football’s big game increasing ten-fold over the last decade.
Super-Sized Bets for Football’s Big Game
With 99 million viewers in 2022, “more Americans tune in to the Super Bowl than any other television broadcast.” Its large viewership, combined with expanding legislation, has led to ballooning wagers.
In this graphic sponsored by Roundhill Investments, we show how these bets have grown over the last 10 years.
Annual Legal Bets on the Big Game
From 2013 through 2018, sports betting was only legal in Nevada and year-over-year growth was low. However, when the federal sports betting ban was lifted in May 2018, more states started allowing bets.
By 2022, 33 states plus Washington, DC were legally able to bet on the game. Wagers climbed quickly as a result.
| Year | Total Bets | Annual Growth |
|---|---|---|
| 2013 | $99M | 5% |
| 2014 | $119M | 21% |
| 2015 | $116M | -3% |
| 2016 | $133M | 14% |
| 2017 | $138M | 4% |
| 2018 | $159M | 15% |
| 2019 | $191M | 20% |
| 2020 | $280M | 47% |
| 2021 | $486M | 73% |
| 2022 | $1.1B | 119% |
Data only for states that report bets on football’s big game, see graphic for full list of states included in 2022.
Impressively, legal bets surpassed the $1 billion mark in 2022. Growth was primarily driven by New York State legalizing online sports betting, with the state contributing nearly $500 million to the total.
Since (Read more...)